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Tata Sons To Buy JV Partner’s Last Stake in AirAsia India: BS

Valuation will be based on an earlier transaction, under which AirAsia Berhad sold its 32.6% stake, the report said


AirAsia
The tail of an AirAsia X plane is seen at the Garuda Maintenance Facility AeroAsia in Tangerang, Indonesia. Photo: Reuters.

 

Tata Sons will acquire a residual state of 16.33% in AirAsia India from joint venture partner AirAsia Berhad for $19 million by early next year, Business Standard reported.

The valuation will be as per an earlier transaction under which AirAsia Berhad sold its 32.6% stake, the report said, citing an unidentified bank official.

Apart from its recent acquisition of Air India, Tata group holds a 51% stake in Tata SIA Airlines and has also bought Air India Express, a no-frills unit of Air India.

Read the full report: Business Standard

 

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